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Central: a proposed sale of gold coins meant to soak up liquidity and curb inflation
09/01/2012 12:00 am
He stressed that a good reserve of banks and individuals and an alternative cash successful
BAGHDAD - Haider Flaih Rubaie
seeks CBI to strengthen financial wealth through expansion deal to include gold bullion as well as the dollar, while finished completing the feasibility study the technical and economic project credit card, which will enable customers to reach Freelance anywhere, anytime, announced the central he is committed to accountability in front of the legislature, according to the limits of validity authorized by, stressing that every issue for the last of the decisions are enforceable by the Bank. said deputy central bank governor Dr appearance of Mohammed Saleh during a statement he made to the Center Brief Iraqi Media Network: The «Constitution committed the central bank accountable to the House of Representatives and there is no response by the bank without any hesitation, a committed and implemented anything issued by the Council». said «We as an institution we have to prepare for accountability and defense according to the possibilities of its mandated According to the Constitution», indicating that «our answers will be within our mandate authorized by». comes talk favor following a decision of the fact-finding problem by the House of Representatives headed by First Deputy Chairman of the Council Qusay al-Suhail and the membership committee chairmen of Finance and Economy and Chairman of Supreme Audit, which demanded to host officials at the Central Bank, including governor Sinan Shabibi. and was a member of the Finance Committee parliamentary Haitham al-Jubouri threatened to resort to collecting signatures to interrogate Iraqi Central Bank Governor Sinan al-Shabibi The unmet Presidency of the Council of Representatives asked the formation of an investigative committee on measures central bank followed in his dealings, as revealed from its inception Collect 50 signatures to demand the formation of an investigative committee dealings central bank. and on the obligations of interrogation between Saleh during his speech (morning) and having two said they stand behind the request the House of Representatives questioning based on the work of the central bank, pointing out that the first reason for information about the existence of corruption (individually) in some joints Bank, which is stated that most state departments suffer not confined to the central only, indicating that the second reason for questioning the nature of the central bank in general and currency auction in particular. showed no benefit of surprise at the question of interrogation, which he said it's normal according to the law, which indicated Article 103 Second to the possibility of questioning based on the bank by the legislative authorities to determine the functioning of the monetary policy, which is overseen by directly central bank. and on the possibility of enhancing the work of the Central Bank, and broaden the base of absorbing liquidity undertaken by the currency auction at the moment in order to counter inflation and reduction, suggested for the possibility of absorbing liquidity through the sale of gold, saying that it was metal is able to constitute reserves good for banks and individuals, as well as being an alternative cash grata in all times and in various parts of the ground. Saleh said that the central financial instruments Kmzadeh daily, and other in-kind can affect together in the absorption of liquidity and reduce inflation rates in Iraq, something that could be played sell gold as a second come along selling the dollar, is that Saleh stressed the survival of the sale of gold by the central proposal to be studied in the future, denying initiate this in the short term. Saleh had revealed earlier to center Bri Iraqi Media Network that the central seeks to build future plans aimed at moving from the adoption of the citizens on the dollar for the purposes of maintaining wealth to other alternatives if the coins or gold bonds worth dollar, Mohammed said that «there are plans and ideas futuristic seeks Central Bank to apply a transition from reliance on the dollar for the purposes of storage and retention of wealth to adopt other means of saving such as issuing coins gold or bonds worth dollar banks can sell to citizens. to that announced for the completion of the feasibility study the technical and economic project credit card, stressing that he waiting for completion of the evaluation Development Agency U.S. so they can be awarded the tender to specialized companies. said deputy central bank governor's (Center Brief for the Iraqi Media Network): The «Project chunked National have it on each bank to put points withdraw deposit Eartat to facilitate cash handling». , adding that «this effort Mbdhul of USAID, which funded part of the assistance provided to Iraq and the project is currently have ». stressed that this project «the establishment of infrastructure for the payments system and will go to an international company evaluate bids». said «needs this project to a company with an electronic system to manage points banks multiple in the country. and credit card system combines points banks in the country to enable customers to access their account at any time and place. This project is known also develop retail electronic payments system.
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